Laboratory Glassware and Plasticware Market Size Worth USD 7,537.7 Million | 3.7% CAGR By 2026, Owing to Increasing Launch of New Products
Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
According to Global Laboratory Glassware and Plasticware Market Report, by Product Type (Glassware and Plasticware), By End User (Hospitals and Diagnostic Centers, Pharma and Biotech Industries, Research and Academic Institutes, and Contract Research Organizations), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), published by Coherent Market Insights, the global laboratory glassware, and plasticware market was valued at US$ 5,473.3 million in 2017, and is projected to exhibit a CAGR of 3.7% over the forecast period (2018 – 2026).
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Increasing prevalence of cancer is expected to boost growth of the global laboratory glassware and plasticware market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S. Moreover, increasing R&D in biotechnology and pharmaceutical industries is also expected to aid in growth of the market.
Increasing launch of new products is expected to propel growth of the global laboratory glassware and plasticware market. For instance, in March 2016, Pall launched Pyrofree Sterile, ready-to-use glass vials, which allow flexible filling from 2 mL to 20 mL.
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Among product type, the plasticware segment is expected to account for the largest market share in the global laboratory glassware and plasticware market over the forecast period.
Among end users, the research and academic institutes segment accounted for the largest market share in the global laboratory glassware and plasticware market in 2015. This is attributed to increasing R&D of drugs in research and academic institutes.
Major players in the market are focused on launching new products to expand their product portfolio. For instance, in August 2018, INTEGRA Biosciences AG developed electronic pipettes to follow standard operating procedures (SOP) and good laboratory practices (GLP). These pipettes include built-in audiovisual alarms that enable easy tracking of calibration schedules and allow to maintain standard operating procedures directly into the pipette.
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Major players in the market are also focused on adopting collaboration strategies to expand their product portfolio. For instance, in February 2019, Andrew Alliance S.A. collaborated with Sartorius to launch Andrew Alliance pipette, which offers improved traceability and repeatability in manual pipetting.
- The global laboratory glassware and plasticware market is expected to exhibit a CAGR of 3.7% over the forecast period
- Major players operating in the global laboratory glassware and plasticware market include Corning, Inc., Duran Group, Vitlab, Thermo Fischer Scientific, Mettler Toledo International, Inc., Gerresheimer AG, Bellco Glass, Inc., Crystalgen, Inc., Sartorius AG, Eppendorf AG, and Technosklo Ltd.
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